Many think that naming a business is the easiest task when starting up one. It may be true, but by not avoiding mistakes, your business could go wrong. Your business name is the first thing your customers come across. Brand names should be easily remembered, spelled, and pronounced. These can give your customers a gist of what your business is all about. By the name itself, they already know what to expect from your store or firm.
According to Phil Davis,
Naming a business is a lot like laying the cornerstone of a building. Once it’s in place, the entire foundation and structure is aligned to that original stone. If it’s off, even just a bit, the rest of the building is off, and the misalignment becomes amplified. So if you have that gnawing sense that choosing a name for your new business is vitally important, you’re right. With 18 years experience in the naming and branding business, I’ve witnessed the good, the bad and the really bad.
I agree with what he said. Naming a business is like building the foundation. You have to work well with the foundation to gain enough structure and build. By taking it lightly, everything else on top falls down tremendously. This man has had 18 years of experience. It is just wise to follow his tips in avoiding mistakes when naming a business. Read the full story here.
The Mistakes You Should Avoid in Naming a Business
1. Exercising Democracy
According to Phil Davis,
We live in a democratic society, and it seems like the right thing to do–to involve everyone (your friends, family, employees and clients) in an important decision. This approach, however, presents a few problems. The first and most obvious fact is that you’ll end up choosing only one name, so you risk alienating the very people you’re trying to involve. Second, you often end up with a consensus decision, which results in a very safe, very vanilla name.
It sounds pleasant for everyone to be a part of the branding process, but this may present disadvantages. Like what Phil Davis said, you usually might end up getting the consensus decision. The most common result would be a safe and plain name. Therefore, the better way is to involve only the key people in the business. The fewer, the better the decision will be.
2. Ordinary Words that Do Not Stand Out
According to Rose Johnson,
Companies that are first in the marketplace can choose plain words, but once competition picks up, then these words become a hindrance for new companies. For example, words like “general” can cause your company to get lost in the crowd. The goal in choosing a business name is to find something simple but unique. Read the full story here.
Look for unique words. You don’t have to be fancy or bookish with your name. All you need to do is to think of a name that identifies your business well and represents what your business is all about. A unique name would be catchy enough to attract the curious minds of the public. They would be interested to patronize your business. And, your name will stick in their heads.
3. Clichés Don’t Always Work
Phil Davis says,
Once past the literal, descriptive word choices, your thought process will most likely turn to metaphors. These can be great if they’re not overly used to the point of being trite. For example, since many companies think of themselves as the top in their industry, the world is full of names like Summit, Apex, Pinnacle, Peak and so on. While there’s nothing inherently wrong with these words, they’re overworked. Instead, look for combinations of positive words and metaphors, and you’ll be much better served.
People have had enough of clichés in business names. In fact, it has been the trend for many years already. As a result, more and more people don’t find these names as attractive as it first came out. To name a business more attractively and uniquely, look for a positive word combination. You can use metaphors, too, as long as you don’t overwork it.
4. Resistant to Name Change
Rose Johnson says,
Although you wish to avoid making mistakes when naming your business, it may happen along the way. Becoming too attached to a name will keep you from making necessary changes if the name is not beneficial to your company. You must keep an open mind when naming your business.
Entrepreneurs should not be resistant to changing their business’ name once they find it not beneficial anymore. What doesn’t work should be changed to keep the business alive. Mistakes are common occurrences in business. You should have an open mind when this instance comes.
Avoiding the aforementioned mistakes in branding can bring your business to greater heights. Some people may find this matter too minimal compared to other problems you may face in running a business. But don’t ignore this just yet as this may put your business down when taken lightly.
What other avoidable mistakes can you think of when naming a business? Please share in the comments below.
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